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Principal content
Output gaps
It is almost impossible to measure an output gap with any accuracy. So how on earth do you measure an economy’s potential?
Utility players
Warren Buffett’s pending $26bn buy-out of railroad Burlington Northern Santa Fe is yet another sign that we have entered a low-return world
Japan, deflating
Buying stocks has proved an effective strategy everywhere except in the only developed market in negative territory in the year to date
Commodity prices
It has taken less than a year for noise surrounding commodities to return to full volume but ignore the wailing analysts
The Philippines
Not even Filipino boxer Manny Pacquiao could avert the impending funding crunch in Asia’s 13th largest economy
California
The Golden State faces a cumulative shortfall of $21bn between the rest of this fiscal year and the one starting next July
US small businesses
While the economy appears to be recovering, many small businesses are suffering
UK wage freeze
Employers’ impulse is still to ‘hoard’ labour and try to temper the harm to productivity using wage restraint
Renminbi appreciation
However perplexing for politicians or investors long renminbi forwards, China’s position on its currency is entirely reasonable
The dollar
US consumers, buoyed by the nascent recovery are buying
more expensive imports, widening the US trade deficit in September
